Annual Forecast for EURUSD (2022)

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RESULTS

EURUSD Annual Forecast – The Market Is Expected to Rebound to 1.1650

The annual forecast for EURUSD is towards the 1.1650 resistance zone. The year 2020 was bullish on the EURUSD market. The euro currency gained strength against the dollar. The contrary was the case in the year 2021. The previous year was bearish for EURUSD. The dollar regained strength as the euro fell in value against the dollar. In 2020, the year started with a three-month-old consolidation. The month of March was seen to create a false breakout of the zone. There was a false breakout higher and also below the zone. Afterward, the major volume of the monthly candles fell within the range as their wicks spiked below.

EURUSD Major Zones

Resistance zone: 1.2250, 1.1200
Support zone: 1.1650, 1.0900

EURUSD Long Term Plan: Bullish

The first of May initiated a bullish move that successfully broke out of the zone in June. The bullish move was not resisted for four consecutive months in 2020. The market retraced into the 1.1650 demand zone. The bullish trend was maintained as the price bounced around the 1.1650 level. The bullish move finally got exhausted upon reaching the 1.2250 zone.

A reversal sign formed below the 1.2250 zone. The Moving Average crossed to the upper side of the monthly candles. A double top led to the bearish move. The neckline was broken in September. The price has dropped rapidly. The previous resistance zone at 1.1200 was tested. Two bullish candles have formed after the bounce on 1.1200. The Stochastic is showing an oversold market. The market is expected to rebound to 1.1650 on the monthly chart.

EURUSD Medium Term Plan: Bullish

The Stochastic was oversold in November when the bullish candle tested the previous resistant zone at 1.1200. The previous resistance zone is currently acting as a support zone.
The moving average has switched positions to support the candles on the weekly time frame. The bullish move from the 1.1200 zone is expected to continue into the 1.1650 resistance zone.

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